Manila: The Asian Development Bank (ADB) has generally endorsed a new 5-year country partnership strategy (CPS) to help the Government of Thailand achieve its goal of becoming a high-income nation through sustainable economic growth.
Under the 2021–2025 strategy, ADB’s programs and projects will help Thailand recover from the coronavirus disease (COVID-19) pandemic, strengthen sustainable and low-carbon growth, improve physical and digital connectivity, address remaining pockets of inequality, and resolve constraints to private sector expansion.
ADB will also share best practices in critical areas such as regional cooperation, climate change, and urbanization, as well as aging and other emerging social issues.
"ADB’s new country partnership strategy was designed to help Thailand achieve prosperity and sustainability through private sector-led growth and knowledge solutions, while promoting regional cooperation and integration to help address the country’s key development challenges," said ADB’s Director General for Southeast Asia Ramesh Subramaniam in a press release on Tuesday.
The strategy will be supported by a 2021–2023 lending program of five projects totaling $1.58 billion in sectors such as transport and energy.
The planned projects will help address pressing issues such as climate change, urbanization, regional cooperation, and gender.
ADB also plans to provide $1 million in technical assistance to facilitate knowledge sharing in and out of Thailand, especially with its regional partners through platforms such as the Association of Southeast Asian Nations (ASEAN) and the ADB-supported Greater Mekong Subregion (GMS) Economic Cooperation program.
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